UAE: Ministry of Finance declares small business tax relief measures

07 April, 2023

On 06 April 2023, the Ministry of Finance has issued Ministerial Decision No. 73 of 2023 on Small Business Relief for the purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (the “Corporate Tax

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UAE publishes new corporate tax law

23 December, 2022

On 9 December 2022, the UAE Ministry of Finance (MoF) released the Federal Decree-Law No. 47 of 2022 on business taxation to enact a new Corporate Tax Law in the UAE. The new law has been supplemented with Frequently Asked Questions (FAQs). The

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OECD: Peer Review Report on Dispute Resolution Mechanisms in the UAE

14 September, 2022

The second stage peer review report on the implementation of the Action 14 minimum standard (making dispute resolution mechanisms more effective) by the United Arab Emirates (UAE) was published by the OECD’s Inclusive Framework on 13 September

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UAE: Consultation on introduction of new corporate income tax regime

05 May, 2022

On 28 April 2022, the UAE Ministry of Finance has released a consultation paper providing details of, and seeking input, on the new federal corporate income tax (CIT) system to be implemented in the UAE, effective for financial years commencing on

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WTO: Trade Review of UAE

25 March, 2022

From 22 to 24 March 2022 the World Trade Organisation (WTO) conducted a review of the trade policies and practices of the United Arab Emirates (UAE). As a basis for the review, a report was prepared by the WTO Secretariat. The UAE’s economy

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UAE: Corporate Income Tax to be Introduced from 2023

03 February, 2022

On 31 January 2022 the United Arab Emirates (UAE) announced that it is introducing a 9% corporate tax with effect from June 2023. This tax will raise more government revenue as the UAE continues the process of economic diversification,

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UAE introduces 9% corporate tax rate

31 January, 2022

On 31 January 2022, the United Arab Emirates (UAE) Ministry of Finance (MoF) announced the introduction of a Corporate tax (CT) in the UAE that will be effective for financial years starting on or after 1 June 2023. The new regime, which is

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UAE: FTA extends re-determination of administrative penalties

25 January, 2022

On 24 January 2022, the Federal Tax Authority (FTA) has called on tax registrants to benefit from the Cabinet Decision to extend the grace period to benefit from the re-determination of administrative penalties on violating tax laws until

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UAE publishes guidance on mutual agreement procedure

15 June, 2021

The Ministry of Finance (MoF) of the United Arab Emirates (UAE) has published guidance on the mutual agreement procedure (MAP), which provides a dispute resolution procedure to resolve tax treaty related disputes. MAP is designed to relieve

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UAE amends provisions of tax penalties

20 May, 2021

On 28 April 2021, the United Arab Emirates (UAE) Cabinet of Ministers issued Resolution No. 49/2021, which amends Cabinet Resolution No. 40/2017 in relation to administrative penalties for the violation of tax laws in the UAE.  Cabinet Resolution

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UAE publishes new guidance on CbC reporting

25 November, 2020

On 2 November 2020, the Ministry of Finance of the United Arab Emirates (UAE) conducted a sessions on Cabinet Resolution No. 44 of 2020 with respect to the country-by-country (CbC) reporting requirements for multinational enterprise (MNE)

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Ukraine signs amending protocol to DTA with UAE

05 August, 2019

On 24 July 2019, the Cabinet of Ukraine approved to sign an amending protocol to the Double Taxation Agreement (DTA) with United Arab Emirates (UAE). The provisions of the draft protocol fully comply with the requirements with the Organization for

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IMF report comments on the economy of the United Arab Emirates

03 October, 2018

On 30 September 2018 the IMF published a report following consultations with the United Arab Emirates under Article IV of the IMF’s articles of agreement. The IMF expects economic growth to strengthen in the next few years supported by higher oil

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UAE signs MLI to implement tax treaty regarding BEPS measures

01 July, 2018

The UAE Ambassador to Peru, Mohammad Yousef Al Awadi, has signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS). The signing took place at the 5th plenary meeting of the

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UAE: New deadline for registration extended till April 30

13 March, 2018

The Federal Tax Authority (FTA) has made an announcement to advise businesses to take benefit from the FTA decision to waive administrative penalties for businesses until April 30, 2018, clarifying that the decision only covers late registration

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UAE: Cabinet approves DTA with Croatia

30 January, 2018

The Cabinet of United Arab Emirates has approved the income tax agreement on January 7, 2018, with Croatia for the avoidance of double taxation and the prevention of fiscal

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UAE: Cabinet approves DTA with Moldova

29 January, 2018

The Cabinet of United Arab Emirates has approved the income tax agreement on January 7, 2018, with Moldova for the avoidance of double taxation and the prevention of fiscal

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Gulf Cooperation Council: Saudi Arabia and UAE to implement VAT

29 December, 2017

Saudi Arabia and the United Arab Emirates (UAE) are to introduce value added tax (VAT) from 1 January 2018 at a rate of 5%. Their new VAT systems will be in line with the terms of the Gulf Cooperation Council (GCC) Unified VAT Agreement. Four other

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